Analyst IMS Investment Management Services Ltd. Sells 312 Shares of RTX Corporation (NYSE:RTX)

Analyst IMS Investment Management Services Ltd. trimmed its position in RTX Corporation (NYSE:RTX) by 7.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,767 shares of the company’s stock after selling 312 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in RTX were worth $499,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. increased its holdings in shares of RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after acquiring an additional 79 shares in the last quarter. Fusion Capital LLC grew its position in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after purchasing an additional 80 shares during the period. McDonough Capital Management Inc increased its stake in RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. increased its stake in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC raised its holdings in RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RTX has been the subject of a number of analyst reports. Cowen reiterated a “buy” rating on shares of RTX in a report on Friday, May 23rd. UBS Group raised their price target on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Wall Street Zen raised RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $159.82.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Stock Up 1.4%

RTX stock opened at $148.50 on Wednesday. The stock has a market cap of $198.39 billion, a P/E ratio of 43.55, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $132.34 and its two-hundred day simple moving average is $126.91. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.56.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio is currently 79.77%.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.